The Termination of an Easement When Both the Dominant and Servient

question 26

Multiple Choice

The termination of an easement when both the dominant and servient tenements are owned by the same person is known as:

• A) abandonment.
• B) forfeiture.
• C) merger.
• D) foreclosure.

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Definitions:

Leasing Cash Flows

The cash inflows and outflows associated with leasing operations, including initial receipts, ongoing lease payments, and final residuals.

Operating Leases

Lease agreements for the use of equipment or property for a shorter period compared to the asset's useful life, where lessor retains ownership.

Financial Leases

Typically, a longer-term, fully amortized lease under which the lessee is responsible for upkeep. Usually not cancellable without penalty.